Vertis Holdings seeks 90-day exclusivity extensions during wind-down

By Jim Witters

Wilmington, Del., Aug. 7 - Vertis Holdings, Inc. is seeking a 90-day extension of its exclusive periods for filing a Chapter 11 plan and for soliciting plan votes "to maintain the status quo until the debtors are able to conclude these cases," according to an Aug. 6 filing with the U.S. Bankruptcy Court for the District of Delaware.

Vertis says is needs the extra time "to ensure that the final disposition of [the cases] takes into account the best interests of the debtors and their creditors and estates. The requested extension is reasonable, given the debtors' significant progress in their cases to date."

If the request is granted, the exclusive period for filing a Chapter 11 plan would be extended through Nov. 4 from Aug. 6. The exclusive period for soliciting plan acceptances would be extended through Jan. 6 from Oct. 7.

This is the debtors' third request for additional time.

A hearing on the motion is scheduled for 10 a.m. ET on Sept. 4.

Under local rules in Delaware, exclusivity is automatically extended through the date of the hearing on the motion.

Vertis, a Baltimore-based marketing communications company, filed for bankruptcy on Oct. 10, 2012. Its Chapter 11 case number is 12-12821.

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